BIZ BUZZ: A relief for Lufthansa?
Lufthansa Technik Philippines (LTP), an aircraft maintenance company jointly owned by Lucio Tan-led MacroAsia Corp. and German firm Lufthansa Technik AG, is facing a potential financial burden with the pending increase in its leasing rates.
The price increase for the locators at Ninoy Aquino International Airport is in line with the concession agreement set forth by the government when it welcomed a private operator.
So, is there a way to potentially cushion the impact of the price increase?
An official of the Department of Transportation said that LTP has been in discussion with the government and New Naia Infra Corp. regarding the new leasing rates.
There could be “creative ways” to ease the possible financial strain, the official said, adding that the new rates could be implemented in a staggered manner, for example.
However, nothing is final yet. A source previously told Biz Buzz that while retaining current rates is ideal, LTP is also open to a compromise.
LTP’s current lease rates, which was based on the contract it signed 25 years when the Special MacroAsia Economic Zone was established, will only be effective until Aug. 31.
